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SVB Leerink Bullish On Silverback Therapeutics, Sees Diverse Pipeline

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SVB Leerink Bullish On Silverback Therapeutics, Sees Diverse Pipeline

Silverback Therapeutics Inc (NASDAQ: SBTX) recently raised $277.7 million by selling 13.225 million shares in an initial public offering that were priced at $21 each.

The Silverback Analyst: SVB Leerink analyst Daina Graybosch initiated coverage of Silverback Therapeutics with an Outperform rating and $40 price target.

The Silverback Thesis: Silverback is a leader in the field of immune stimulator antibody conjugates, with a pipeline of ImmunoTAC conjugated TLR8 agonists for oncology and virology indications, Graybosch said in the initiation note.

Clinical data from the dose escalation trial of HER2-targeting SBT6050 due in 2021 could provide proof-of-principle for Silverback's ImmunoTAC platform, the analyst said. 

Related Link: The Week Ahead In Biotech (Dec. 27-Jan. 2): Data Releases, Regulatory Filings To Move Stocks

If HER2 tumors prove a challenge, Silverback will quickly have data from SBT6290 in bladder cancer, she said. 

"Beyond oncology, Silverback's discovery ImmunoTAC programs in virology and fibrosis add risk-mitigating diversification and provide near-term partnership/out-licensing opportunities."

SBTX Price Action: Silverback shares gained 1.37% in Tuesday's session, closing at $37. 

Related Link: The Daily Biotech Pulse: FDA Nod For Amphastar's Generic Glucagon, Arcturus Sinks On Vaccine Data, Decision Day For Osmotica

Latest Ratings for SBTX

DateFirmActionFromTo
Dec 2020SVB LeerinkInitiates Coverage OnOutperform
Dec 2020StifelInitiates Coverage OnBuy
Dec 2020HC Wainwright & Co.Initiates Coverage OnBuy

View More Analyst Ratings for SBTX
View the Latest Analyst Ratings

 

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Posted-In: Daina GrayboschAnalyst Color Biotech Price Target Initiation Small Cap Analyst Ratings General

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